Loss narrows for herbal extracts company

Hauser, Inc., a US supplier of herbal extracts and nutritional
supplements, reports its financial results for the fiscal 2002
second quarter .

Hauser, Inc., a supplier of herbal extracts and nutritional
supplements, this reported its financial results for the fiscal
2002 second quarter ended September 30, 2001.

For the fiscal 2002 second quarter, net loss narrowed to
$911,000, or $0.16 per share, from a net loss in the corresponding
quarter a year ago of $3.1 million, or $0.63 per share. Loss from
operations improved to $538,000, compared with loss from operations
of $2.4 million in the same quarter a year ago. Total revenues were
$13.4 million, compared with total revenues of $17.4 million in the
corresponding year-earlier quarter.

For the first half of fiscal 2002, Hauser recorded a net loss of
$1.5 million, or $0.28 per share, improved from a net loss in the
year-earlier first half of $5.0 million, or $1.03 per share. The
current first half loss from operations totalled $716,000, compared
with a year ago when the first half loss from operations equaled
$4.4 million. Total revenues for the first six months of fiscal
2002 were $29.2 million, compared with $39.1 million a year
ago.

Kenneth Cleveland, president and chief executive officer, said,
"Our results reflect the progress we continue to make as we seek
ways to operate more efficiently. Costs in sales, marketing, and
general and administrative have been significantly reduced, not
only quarter-over-quarter but also sequentially."​

As part of its program to better focus Hauser's resources and
improve its financial and operating structure, the company has
previously announced its intention to sell Hauser Contract
Research, Hauser Laboratories and Shuster Laboratories.